Answer:
Debit to Salaries Expense $2,700; Credit to Salaries Payable $2,700
Explanation:
In accounting, we have to recognize all expenses even though we haven't paid it yet. This is one of those instances.
The employees have worked for 3 days at the end of January but will not receive their payment on that day. That equates to $2,700 of salaries accrued at the end of January.
Accrued Expenses are recorded as payables, in this problem it's "Salaries Payable".
So to complete the adjusting journal entry:
(Debit) Salaries Expense $2,700
(Credit) Salaries Payable $2,700
Answer: (a) $295 million
(b) $326 million
Explanation:
Given that,
Sales = $900 million during 2016
Cash = $871 million
Cost of goods sold = $280 million
Expenses for the year totaled = $325 million
Paid for Inventory = $375 million
Paid for everything else = $285 million
Beginning cash = $115 million
(a) Net Income = Sales - Cost of goods sold - Expenses for the year totaled
= $900 - $280 - $325
= $295 million
(b) Carter's cash balance at the end of 2016:
= Cash + Beginning cash - Paid for Inventory - Paid for everything else
= $871 + $115 - $375 - $285
= $326 million
Answer:
Part 1
<u>Cash Account</u>
$
<u>Debit :</u>
Receive cash from customers 15,000
Sale of Equipment 8,000
Bank Loan 4,000
Totals 27,000
<u>Credit :</u>
Pay cash for employee salaries 9,000
Rent 3,000
Utilities 1,000
Advertising 7,000
Ending Balance 7,000
Totals 27,000
Part 2
Ending Balance is $7,000
Explanation:
Only Cash related purchases and receipts are posted to Cash Account. Thus ignore non-cash related transactions.
The Cash Account : Receipts are posted at the Debit side of this Account and Payments at the Credit Side.
The Balance : After determining the Totals of the Debit and Credit, the shortfall of any of that side represents the Balance.
For make-or-buy selections, a provider's ability to maintain the secrecy of intellectual property is taken into consideration as an opportunity price.
Intellectual property is a class of property that consists of intangible creations of the human intellect. there are numerous sorts of highbrow property, and a few international locations apprehend extra than others. The quality-recognized types are copyrights, patents, trademarks, and exchange secrets and techniques. intellectual belongings (IP) refers to creations of the mind, consisting of innovations; literary and creative works; designs; emblems, names, and pictures used in commerce.
Examples of the intellectual property consist of a writer's copyright on an e-book or article, an exceptional brand design representing a soft drink agency and its products, unique design elements of a web website, or a patent on a specific technique to, for instance, manufacture chewing gum.
Learn more about Intellectual property here: brainly.com/question/1083623
#SPJ4
The important consideration for this company is that they
should think or have at least the idea of the patents, trade secrets and
copyrights are being treated differently by the countries in which is one way
of helping them of how they should struggle or do their way of doing things.
